NEW YORK, NY – Investment management firm, Canada Pension Plan Investment Board (CPP Investments) and the wholly-owned subsidiary of Lennar Corp., LMC have formed a $979 million joint-venture to develop class A multifamily communities in major US markets.
CPP Investments will own a 96% stake in the joint-venture, while LMC will own the remaining 4%.
The partnership will develop urban and suburban communities situated across high-growth metropolitan markets in the US.
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Ingrid Tunberg
Ingrid Tunberg sits on the editorial team as a coordinator and reporter for Real Estate Forum and GlobeSt.com. She is responsible for writing stories, assisting with industry awards and marketing nomination events. Previously, Ingrid worked as a copywriter across various industries throughout New York City and Chicago.
